Israel, Greece, Cyprus to Export Electricity to EU

Israel, Greece and Cyprus plan to enhance their cooperation in the fields of energy and water resources that could result in cheaper electricity in the eastern Mediterranean and exports of natural gas, as well as electricity to the European power grid.

The ministers of energy of the three countries signed a memorandum of understanding in Nicosia on Thursday, the first of its kind between them, that will encourage joint projects and enhance security of energy supply, energy resources and sustainable development in the area.

Cyprus Energy, Trade and Tourism Minister Yiorgos Lakotrypis said that they discussed the high tension EuroAsia Interconnector project, a 2,000 megawatt subsea electricity cable from Israel to continental Europe via Cyprus and Greece “and we reiterated our commitment to the project that is of special interest to the European Union.”